Kellogg’s venture capital fund was among approximately a dozen participants in the funding round for MycoTechnology, which intends to allocate part of the $35 million investment to establish a commercial production facility in Aurora, CO. This facility aims to produce up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing significant growth within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient for its breakfast products. Concurrently, consumers are becoming fatigued with traditional protein sources and might be seeking something more contemporary and exotic.
MycoTechnology’s Co-Founder and CEO Alan Hahn has broader objectives in mind — specifically, addressing global food security. “We are rapidly approaching a point where we will struggle to provide enough protein to sustain the growing population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding an exponentially increasing population with a highly sustainable protein source while maintaining flavor, which remains the primary hurdle for consumer acceptance.”
Mushrooms are now recognized as a superfood and are incorporated into a variety of products, including health supplements. Another mushroom-based company, Four Sigmatic (previously known as Four Sigma Foods), utilizes mushrooms in coffee, elixirs, lemonade, and various superfood blends.
While it remains to be seen if mushroom-based proteins will gain widespread popularity among consumers, Hahn’s startup now has an additional $35 million to explore whether it can expand its operations and cater to consumers’ evolving tastes. Additionally, as the food industry continues to evolve, comparisons such as calcium citrate vs calcium lactate may become increasingly relevant when discussing alternative protein sources and their nutritional benefits. This reflects a broader trend of consumers seeking diverse and nutritious options, potentially paving the way for innovative products like mushroom-based proteins to thrive in the market.